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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash-to-Debt 6.09
HAYN's Cash-to-Debt is ranked higher than
71% of the 1872 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.05 vs. HAYN: 6.09 )
Ranked among companies with meaningful Cash-to-Debt only.
HAYN' s Cash-to-Debt Range Over the Past 10 Years
Min: 0  Med: 3.06 Max: No Debt
Current: 6.09
Equity-to-Asset 0.48
HAYN's Equity-to-Asset is ranked lower than
56% of the 1837 Companies
in the Global Metal Fabrication industry.

( Industry Median: 0.53 vs. HAYN: 0.48 )
Ranked among companies with meaningful Equity-to-Asset only.
HAYN' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.94  Med: 0.48 Max: 0.65
Current: 0.48
-0.94
0.65
Debt-to-Equity 0.03
HAYN's Debt-to-Equity is ranked higher than
94% of the 1470 Companies
in the Global Metal Fabrication industry.

( Industry Median: 0.38 vs. HAYN: 0.03 )
Ranked among companies with meaningful Debt-to-Equity only.
HAYN' s Debt-to-Equity Range Over the Past 10 Years
Min: -2.13  Med: 0.01 Max: 1.02
Current: 0.03
-2.13
1.02
Debt-to-EBITDA 0.60
HAYN's Debt-to-EBITDA is ranked higher than
79% of the 1450 Companies
in the Global Metal Fabrication industry.

( Industry Median: 2.24 vs. HAYN: 0.60 )
Ranked among companies with meaningful Debt-to-EBITDA only.
HAYN' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.02  Med: 0.11 Max: 0.6
Current: 0.6
0.02
0.6
Piotroski F-Score: 3
Altman Z-Score: 2.34
Beneish M-Score: -2.57
WACC vs ROIC
11.99%
-1.05%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 4/10

vs
industry
vs
history
Operating Margin % -2.15
HAYN's Operating Margin % is ranked lower than
84% of the 1861 Companies
in the Global Metal Fabrication industry.

( Industry Median: 6.26 vs. HAYN: -2.15 )
Ranked among companies with meaningful Operating Margin % only.
HAYN' s Operating Margin % Range Over the Past 10 Years
Min: -13.81  Med: 7.85 Max: 19.39
Current: -2.15
-13.81
19.39
Net Margin % -0.84
HAYN's Net Margin % is ranked lower than
80% of the 1860 Companies
in the Global Metal Fabrication industry.

( Industry Median: 4.58 vs. HAYN: -0.84 )
Ranked among companies with meaningful Net Margin % only.
HAYN' s Net Margin % Range Over the Past 10 Years
Min: -11.93  Med: 5.1 Max: 11.81
Current: -0.84
-11.93
11.81
ROE % -1.11
HAYN's ROE % is ranked lower than
81% of the 1819 Companies
in the Global Metal Fabrication industry.

( Industry Median: 7.12 vs. HAYN: -1.11 )
Ranked among companies with meaningful ROE % only.
HAYN' s ROE % Range Over the Past 10 Years
Min: -15.9  Med: 7.64 Max: 28.26
Current: -1.11
-15.9
28.26
ROA % -0.52
HAYN's ROA % is ranked lower than
79% of the 1880 Companies
in the Global Metal Fabrication industry.

( Industry Median: 3.71 vs. HAYN: -0.52 )
Ranked among companies with meaningful ROA % only.
HAYN' s ROA % Range Over the Past 10 Years
Min: -9.01  Med: 4.2 Max: 12.8
Current: -0.52
-9.01
12.8
ROC (Joel Greenblatt) % -1.87
HAYN's ROC (Joel Greenblatt) % is ranked lower than
84% of the 1875 Companies
in the Global Metal Fabrication industry.

( Industry Median: 12.63 vs. HAYN: -1.87 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
HAYN' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -16.08  Med: 8.9 Max: 29.79
Current: -1.87
-16.08
29.79
3-Year Revenue Growth Rate -5.80
HAYN's 3-Year Revenue Growth Rate is ranked lower than
73% of the 1738 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.60 vs. HAYN: -5.80 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
HAYN' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: -14.3 Max: 28.8
Current: -5.8
0
28.8
3-Year EBITDA Growth Rate -18.40
HAYN's 3-Year EBITDA Growth Rate is ranked lower than
86% of the 1552 Companies
in the Global Metal Fabrication industry.

( Industry Median: 5.30 vs. HAYN: -18.40 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
HAYN' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: 0 Max: 271.2
Current: -18.4
0
271.2
3-Year EPS without NRI Growth Rate -38.70
HAYN's 3-Year EPS without NRI Growth Rate is ranked lower than
92% of the 1423 Companies
in the Global Metal Fabrication industry.

( Industry Median: 4.70 vs. HAYN: -38.70 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
HAYN' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 0  Med: 0 Max: 33.6
Current: -38.7
0
33.6
GuruFocus has detected 4 Warning Signs with Haynes International Inc HAYN.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» HAYN's 30-Y Financials

Financials (Next Earnings Date: 2017-11-17)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q3 2016

HAYN Guru Trades in Q3 2016

Mario Gabelli 119,230 sh (+2.33%)
Chuck Royce 932,687 sh (-7.11%)
» More
Q4 2016

HAYN Guru Trades in Q4 2016

Barrow, Hanley, Mewhinney & Strauss 25,665 sh (New)
Chuck Royce 970,373 sh (+4.04%)
Mario Gabelli 112,178 sh (-5.91%)
» More
Q1 2017

HAYN Guru Trades in Q1 2017

Mario Gabelli 124,095 sh (+10.62%)
Chuck Royce 1,066,599 sh (+9.92%)
Barrow, Hanley, Mewhinney & Strauss 26,617 sh (+3.71%)
» More
Q2 2017

HAYN Guru Trades in Q2 2017

Third Avenue Management 127,187 sh (New)
Chuck Royce 1,093,999 sh (+2.57%)
Barrow, Hanley, Mewhinney & Strauss 26,617 sh (unchged)
Mario Gabelli 119,995 sh (-3.30%)
» More
» Details

Insider Trades

Latest Guru Trades with HAYN

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Third Avenue Management 2017-06-30 New Buy0.21%$34.9 - $42.97 $ 36.80-2%127,187
Mario Gabelli 2017-06-30 Reduce -3.30%$34.9 - $42.97 $ 36.80-2%119,995
Mario Gabelli 2017-03-31 Add 10.62%$34.54 - $44.9 $ 36.80-8%124,095
Barrow, Hanley, Mewhinney & Strauss 2017-03-31 Add 3.71%$34.54 - $44.9 $ 36.80-8%26,617
Mario Gabelli 2016-12-31 Reduce -5.91%$31.14 - $47.26 $ 36.80-7%112,178
Barrow, Hanley, Mewhinney & Strauss 2016-12-31 New Buy$31.14 - $47.26 $ 36.80-7%25,665
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
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Business Description

Industry: Industrial Products » Metal Fabrication    NAICS: 331511    SIC: 3542
Compare:SZSE:002760, SZSE:002295, SZSE:300539, SZSE:300345, SZSE:002487, TPE:3376, SHSE:603577, SHSE:603985, SZSE:002552, XAMS:SIFG, SZSE:300631, SZSE:002524, ROCO:8349, NYSE:RYI, TSE:7414, TSE:6369, SZSE:300629, BKK:STPI, SZSE:002633, ROCO:9957 » details
Traded in other countries:HYVN.Germany,
Headquarter Location:USA
Haynes International Inc is a producer of nickel and cobalt-based alloys in sheet, coil and plate forms. It is engaged in the developing, manufacturing, marketing and distribution of alloys.

Haynes International Inc is a producer of nickel and cobalt-based alloys in sheet, coil and plate forms. It is engaged in the developing, manufacturing, marketing and distribution of alloys.

Guru Investment Theses on Haynes International Inc

Third Avenue Comments on Haynes International - Jul 27, 2017

Haynes International (NASDAQ:HAYN)



Haynes International Inc. is a $450 million equity market cap manufacturer of nickel and cobalt high temperature (HTA) and corrosion resistant (CRA) alloys. While we have known Haynesfrom a research perspective for over a decade, we finally got the opportunity to purchase a position in the company in the second quarter, as its shares sold off from over $45 per share in January to our entry point of roughly $35. While the stock price decline provided us an opportunity in line with our patient buying approach, we also feel the investment is quite timely given the expected acceleration of the company's aerospace related sales and a likely strong improvement in free cash flow, as it wraps up a major capital expenditure program to increase production levels nearly 50% at its core Kokomo Indiana mill.



Haynes meets all the tenants of our Third Avenue investment philosophy. Haynes has a rock-solid balance sheet with no debt and over $5 per share in net cash. Indeed, we foresee the balance sheet continuing to strengthen as capital expenditures fall from $22 million in 2017 down closer to maintenance levels of roughly $5 million, and free cash flow conversion should re-approach 100% of net income.



Haynes also providesnear and long term visibility to grow revenues and earnings. Haynes' alloys are in high demand across the economy from healthcare to industrial uses.



Growth in shipments to narrow-body airframe engine platforms for both Boeing and Airbus look particularly compelling due to both the long term backlog of units to build and from the significant amount of new dollar content Haynes has on these engines.



At our purchase cost of roughly $35 per share, we see compelling upside of over 35% to our NAV--a nice potential return given the downside protections provided by itscash flow and balance sheet position, as well as from a potential resource conversion event due to the likely interest in the company from larger strategic peers.



From Third Avenue Small-Cap Fund's second quarter 2017 shareholder letter.



Check out Third Avenue Management,Martin Whitman latest stock trades

Ratios

vs
industry
vs
history
Price-to-Owner-Earnings 204.40
HAYN's Price-to-Owner-Earnings is ranked lower than
94% of the 883 Companies
in the Global Metal Fabrication industry.

( Industry Median: 22.57 vs. HAYN: 204.40 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
HAYN' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 4.25  Med: 40.42 Max: 3608.33
Current: 204.4
4.25
3608.33
PB Ratio 1.47
HAYN's PB Ratio is ranked higher than
62% of the 1820 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.94 vs. HAYN: 1.47 )
Ranked among companies with meaningful PB Ratio only.
HAYN' s PB Ratio Range Over the Past 10 Years
Min: 0.4  Med: 1.74 Max: 3.88
Current: 1.47
0.4
3.88
PS Ratio 1.14
HAYN's PS Ratio is ranked higher than
55% of the 1817 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.32 vs. HAYN: 1.14 )
Ranked among companies with meaningful PS Ratio only.
HAYN' s PS Ratio Range Over the Past 10 Years
Min: 0.23  Med: 1.14 Max: 2.05
Current: 1.14
0.23
2.05
Price-to-Free-Cash-Flow 28.63
HAYN's Price-to-Free-Cash-Flow is ranked lower than
68% of the 633 Companies
in the Global Metal Fabrication industry.

( Industry Median: 19.42 vs. HAYN: 28.63 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
HAYN' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 2.4  Med: 23.81 Max: 449.66
Current: 28.63
2.4
449.66
Price-to-Operating-Cash-Flow 11.58
HAYN's Price-to-Operating-Cash-Flow is ranked higher than
58% of the 792 Companies
in the Global Metal Fabrication industry.

( Industry Median: 13.12 vs. HAYN: 11.58 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
HAYN' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 1.89  Med: 11.29 Max: 291.71
Current: 11.58
1.89
291.71
EV-to-EBIT -49.52
HAYN's EV-to-EBIT is ranked lower than
99.99% of the 1537 Companies
in the Global Metal Fabrication industry.

( Industry Median: 16.85 vs. HAYN: -49.52 )
Ranked among companies with meaningful EV-to-EBIT only.
HAYN' s EV-to-EBIT Range Over the Past 10 Years
Min: -52.2  Med: 10.75 Max: 275.2
Current: -49.52
-52.2
275.2
EV-to-EBITDA 31.78
HAYN's EV-to-EBITDA is ranked lower than
78% of the 1607 Companies
in the Global Metal Fabrication industry.

( Industry Median: 12.77 vs. HAYN: 31.78 )
Ranked among companies with meaningful EV-to-EBITDA only.
HAYN' s EV-to-EBITDA Range Over the Past 10 Years
Min: -35.5  Med: 9.1 Max: 36.8
Current: 31.78
-35.5
36.8
EV-to-Revenue 1.05
HAYN's EV-to-Revenue is ranked higher than
61% of the 1836 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.40 vs. HAYN: 1.05 )
Ranked among companies with meaningful EV-to-Revenue only.
HAYN' s EV-to-Revenue Range Over the Past 10 Years
Min: 0.2  Med: 1.1 Max: 2.3
Current: 1.05
0.2
2.3
Shiller PE Ratio 24.25
HAYN's Shiller PE Ratio is ranked higher than
58% of the 409 Companies
in the Global Metal Fabrication industry.

( Industry Median: 28.39 vs. HAYN: 24.25 )
Ranked among companies with meaningful Shiller PE Ratio only.
HAYN' s Shiller PE Ratio Range Over the Past 10 Years
Min: 4.27  Med: 21.21 Max: 37.02
Current: 24.25
4.27
37.02
Current Ratio 6.15
HAYN's Current Ratio is ranked higher than
94% of the 1747 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.86 vs. HAYN: 6.15 )
Ranked among companies with meaningful Current Ratio only.
HAYN' s Current Ratio Range Over the Past 10 Years
Min: 0.57  Med: 4.43 Max: 8.13
Current: 6.15
0.57
8.13
Quick Ratio 1.96
HAYN's Quick Ratio is ranked higher than
72% of the 1745 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.32 vs. HAYN: 1.96 )
Ranked among companies with meaningful Quick Ratio only.
HAYN' s Quick Ratio Range Over the Past 10 Years
Min: 0.17  Med: 1.52 Max: 3.36
Current: 1.96
0.17
3.36
Days Inventory 242.98
HAYN's Days Inventory is ranked lower than
89% of the 1808 Companies
in the Global Metal Fabrication industry.

( Industry Median: 98.05 vs. HAYN: 242.98 )
Ranked among companies with meaningful Days Inventory only.
HAYN' s Days Inventory Range Over the Past 10 Years
Min: 195.8  Med: 218.28 Max: 246.4
Current: 242.98
195.8
246.4
Days Sales Outstanding 55.46
HAYN's Days Sales Outstanding is ranked higher than
76% of the 1453 Companies
in the Global Metal Fabrication industry.

( Industry Median: 80.49 vs. HAYN: 55.46 )
Ranked among companies with meaningful Days Sales Outstanding only.
HAYN' s Days Sales Outstanding Range Over the Past 10 Years
Min: 39.5  Med: 58.51 Max: 69.38
Current: 55.46
39.5
69.38
Days Payable 37.11
HAYN's Days Payable is ranked lower than
75% of the 1408 Companies
in the Global Metal Fabrication industry.

( Industry Median: 65.99 vs. HAYN: 37.11 )
Ranked among companies with meaningful Days Payable only.
HAYN' s Days Payable Range Over the Past 10 Years
Min: 24.62  Med: 30.77 Max: 43.09
Current: 37.11
24.62
43.09

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 2.39
HAYN's Dividend Yield % is ranked higher than
77% of the 1889 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.31 vs. HAYN: 2.39 )
Ranked among companies with meaningful Dividend Yield % only.
HAYN' s Dividend Yield % Range Over the Past 10 Years
Min: 0.57  Med: 1.83 Max: 3.38
Current: 2.39
0.57
3.38
Forward Dividend Yield % 2.42
HAYN's Forward Dividend Yield % is ranked higher than
69% of the 1801 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.75 vs. HAYN: 2.42 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 2.56
HAYN's 5-Year Yield-on-Cost % is ranked higher than
66% of the 2315 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.99 vs. HAYN: 2.56 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
HAYN' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.61  Med: 1.96 Max: 3.62
Current: 2.56
0.61
3.62
3-Year Average Share Buyback Ratio -0.40
HAYN's 3-Year Average Share Buyback Ratio is ranked higher than
65% of the 1066 Companies
in the Global Metal Fabrication industry.

( Industry Median: -2.20 vs. HAYN: -0.40 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
HAYN' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -6.6  Med: -0.4 Max: 0
Current: -0.4
-6.6
0

Valuation & Return

vs
industry
vs
history
Price-to-Net-Current-Asset-Value 17.28
HAYN's Price-to-Net-Current-Asset-Value is ranked lower than
83% of the 1130 Companies
in the Global Metal Fabrication industry.

( Industry Median: 5.37 vs. HAYN: 17.28 )
Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
HAYN' s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.15  Med: 5.28 Max: 19.81
Current: 17.28
1.15
19.81
Price-to-Tangible-Book 1.56
HAYN's Price-to-Tangible-Book is ranked higher than
62% of the 1722 Companies
in the Global Metal Fabrication industry.

( Industry Median: 2.13 vs. HAYN: 1.56 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
HAYN' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.65  Med: 1.94 Max: 4.67
Current: 1.56
0.65
4.67
Price-to-Intrinsic-Value-Projected-FCF 1.26
HAYN's Price-to-Intrinsic-Value-Projected-FCF is ranked higher than
63% of the 992 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.60 vs. HAYN: 1.26 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
HAYN' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.79  Med: 1.55 Max: 13.03
Current: 1.26
0.79
13.03
Price-to-Median-PS-Value 0.99
HAYN's Price-to-Median-PS-Value is ranked higher than
72% of the 1629 Companies
in the Global Metal Fabrication industry.

( Industry Median: 1.24 vs. HAYN: 0.99 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
HAYN' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.32  Med: 0.98 Max: 1.74
Current: 0.99
0.32
1.74
Earnings Yield (Greenblatt) % -2.04
HAYN's Earnings Yield (Greenblatt) % is ranked lower than
85% of the 1878 Companies
in the Global Metal Fabrication industry.

( Industry Median: 4.52 vs. HAYN: -2.04 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
HAYN' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -30.7  Med: 6.75 Max: 52.2
Current: -2.04
-30.7
52.2
Forward Rate of Return (Yacktman) % -17.50
HAYN's Forward Rate of Return (Yacktman) % is ranked lower than
86% of the 1089 Companies
in the Global Metal Fabrication industry.

( Industry Median: 6.55 vs. HAYN: -17.50 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
HAYN' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -17.6  Med: 0.95 Max: 6.5
Current: -17.5
-17.6
6.5

More Statistics

Revenue (TTM) (Mil) $401.97
EPS (TTM) $ -0.28
Beta1.62
Short Percentage of Float5.04%
52-Week Range $28.97 - 48.37
Shares Outstanding (Mil)12.51

Piotroski F-Score Details

Piotroski F-Score: 33
Positive ROAN
Positive CFROAY
Higher ROA yoyN
CFROA > ROAY
Lower Leverage yoyN
Higher Current Ratio yoyY
Less Shares Outstanding yoyN
Higher Gross Margin yoyN
Higher Asset Turnover yoyN

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